U.S. loses 80,000 Jobs, Unemployment Rate Jumps to 5.1 Percent

The U.S. economy shed 80,000 jobs in March 2008, the U.S. Labor Department announced Friday — the unemployment rate rose to the highest level since September 2005, pointing to an economy that may already be in a recession.

The unemployment rate rose from 4.8 to 5.1 percent in March according to the Department of Labor reports.